Sakshi says Sony dumped Ramoji in the lurch

September 14, 2011 16:28
Sakshi says Sony dumped Ramoji in the lurch

JaganRamojiContinuing its campaign against its perennial bête-noir and media baron Ramoji Rao, YSR congress president YS Jaganmohan reddy-owned Sakshi daily said today that the Sony Corporation has gone back on its promise of buying the ETV and other TV channels of Ramoji rao at the eleventh hour as it had doubts over the viability of buying them.

Sakshi accused Ramoji and Eenadu of unleashing a Gobles campaign that the Jagan-owned daily is going to face closure because of the CBI investigation against Jagan. It further said that Ramoji would be fined an amount of Rs.5, 200 Cr for violating several rules of Reserve Bank in promoting the Margadarsi Financiers and another fine of Rs.2500 Cr for violating the rules of the Income Tax in addition to being jailed for a minimum of two years.

After suffering heavy losses due to several cases pending against Margadarsi Financiers, Ramoji could get a breather through the investments made into his group by the Reliance Industries through the Nimesh Kampani channel at the instance of former TDP chief Mr Chandrababu Naidu, according to the story.

However, even before the cases pending against Margadarsi Financiers were settled, Ramoji put up for sale his TV channels for Rs.2400 Cr so that the Kampanies can be asked to shed their shares. But sensing trouble, the Sony Corporation, which first promised to buy, went back on its promise of buying the stake in the Ramoji group. “It would now be a fun to see how Ramjoji comes out of this trouble,” said the daily.

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